Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipeline, processing plant, and treating and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; and a natural gas gathering system in Ohio, as well as transport and supplies water to natural gas producer in Pennsylvania. It owns approximately 5,215 miles of NGL pipeline; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 50 million barrels (MMBbls); and other NGL storage assets and terminal with an aggregate storage capacity of approximately 17 MMBbls. The company provides crude oil transportation, terminalling, acquisition, and marketing activities; and sells and distributes gasoline, middle distillate, and motor fuels and other petroleum product. It offers natural gas compression service; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management service; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalty, and generate electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. The company was founded in 1996 and is headquartered in Dallas, Texas.
Analyst Ratings Changes
Several research firms have recently commented on ET. Barclays lowered their price target on shares of Energy Transfer from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, July 20th. Morgan Stanley boosted their price target on shares of Energy Transfer from $12.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday, April 26th. Finally, US Capital Advisors restated a "buy" rating on shares of Energy Transfer in a report on Wednesday, June 1st. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $14.25.
Energy Transfer Stock Up 2.0 %
Energy Transfer stock opened at $11.49 on Friday. The firm has a market cap of $35.47 billion, a price-to-earnings ratio of 9.19 and a beta of 1.90. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 0.98. Energy Transfer has a fifty-two week low of $7.96 and a fifty-two week high of $12.48. The firm has a fifty day moving average price of $10.61 and a two-hundred day moving average price of $10.66.
Energy Transfer Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, August 8th will be given a dividend of $0.23 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 8.01%. Energy Transfer's payout ratio is currently 73.60%.
Insiders Place Their Bets
In related news, Chairman Kelcy L. Warren acquired 1,591,092 shares of the business's stock in a transaction dated Tuesday, August 9th. The stock was acquired at an average price of $10.94 per share, with a total value of $17,406,546.48. Following the completion of the transaction, the chairman now owns 49,578,477 shares of the company's stock, valued at $542,388,538.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Energy Transfer news, Director Richard D. Brannon purchased 26,027 shares of the company's stock in a transaction that occurred on Thursday, July 14th. The stock was purchased at an average price of $9.47 per share, with a total value of $246,475.69. Following the completion of the transaction, the director now directly owns 388,347 shares of the company's stock, valued at approximately $3,677,646.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Kelcy L. Warren purchased 1,591,092 shares of the company's stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average cost of $10.94 per share, with a total value of $17,406,546.48. Following the transaction, the chairman now directly owns 49,578,477 shares of the company's stock, valued at $542,388,538.38. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company's stock.
